As of April 2025, the top three foreign holders of U.S. Treasury bonds are Japan, the United Kingdom, and China

    On June 18, 2025, data released by the U.S. Treasury Department showed that among the top three overseas holders of U.S. debt as of April 2025, Japan and the United Kingdom increased their holdings of U.S. Treasury securities. China, which had dropped from the second-largest holder to the third-largest holder last month, continued to reduce its holdings of U.S. debt. This occurred during a period of turbulence in the U.S. debt market in April.

    The U.S. Treasury's April 2025 International Capital Flows Report (TIC) revealed that Japan increased its holdings by $3.7 billion in April, maintaining its position as the largest creditor with a total portfolio of $1.1345 trillion.

    The United Kingdom increased its holdings by $28.4 billion to $807.7 billion, retaining its second-place ranking.

    China reduced its holdings by $8.2 billion to $757.2 billion in April, marking the second consecutive month of reductions this year. Following the reduction, China's holdings of U.S. Treasuries remained the third-largest.

    Since April 2022, China's holdings of U.S. Treasuries have consistently remained below $1 trillion, showing an overall downward trend. In January 2025, China increased its holdings by $1.8 billion, followed by a $23.5 billion increase in February and a $18.9 billion decrease in March. Over the years 2022, 2023, and 2024, China reduced its holdings by $173.2 billion, $50.8 billion, and $57.3 billion respectively.

    The U.S. Treasury report indicates that in April, the total net outflow of all foreign holdings of long-term and short-term U.S. securities and banking flows amounted to $14.2 billion. This comprised a net inflow of $3.1 billion from foreign private investors and a net outflow of $17.3 billion from foreign official investors.

    Concurrently, foreign investors net sold $50.6 billion worth of long-term U.S. securities in April, following a net purchase of $183.2 billion in March. Overseas private investors net sold $20.5 billion, while overseas official institutions net sold $30.1 billion. After adjustments, including U.S. equities purchased by overseas portfolios through stock swaps, overseas investors overall net sold $7.8 billion in U.S. long-term securities in April, compared to a net purchase of $161.8 billion in March.